Is This Real? 1936 Kangaroo Penny?

Yes it is. It was originally called a 1936 Fantasy Crown. There were quite a few in this series. There was Australia, UK, Ceylon, South Africa & Bermuda (there may have been others too). I believe that they were also bulk made/manufactured/pressed again at some point during the 1960's.
Here's some information I found for you:
The unofficial pattern Edward VIII 1936 crown was produced in two metals - Nickel-Silver and Gilded (Golden) Bronze.
During 1965, unofficial crown size patterns of Edward VIII were offered for sale in the United Kingdom and the United States. The obverse of these patterns bore the effigy of Edward VIII and were available with four different motifs. These were: Australia - Kangaroo, United Kingdom - St. George and Dragon, Ceylon - Elephant and Bermuda - Sailing ship. All these patterns were dated 1936 and had a plain edge. These would appear to be restrikes of the patterns issued soon after the accession of Edward VIII. Originally they were struck in very limited numbers, but owing to the popularity of crown size pieces, it appears that these have now been re-struck in larger numbers.
In 1996, the Tower Mint in London released a further two unofficial Edward VIII crowns dated 1936. The coins, one struck in Copper-Nickel and the other in Gilding, each have a privy mark date below the bust on the obverse which reads '20.1.36 - 11.12.36' representing the short period of the monarch's reign before abdicating.

so basically its a novelty item? never released as real money and never released as nclt

nah I'm not buying unless I get the bargain of the year for the next few weeks, waiting on about 12 items now. thats enough for the time being I thinks.